Trumpf CEO: Tariffs impact industry more than war

Stephan Mayer, CEO for Machine Tools at German firm Trumpf, stated that tariffs have presented a more significant challenge to the machine tool industry than the ongoing conflict in Iran. Mayer emphasized that the economic headwinds caused by trade policies have had a more severe impact on business operations and growth prospects. His comments, made during an interview on Bloomberg TV, suggest that geopolitical tensions, while present, are not the primary concern for the sector's stability and future. The focus remains on navigating the complexities and costs associated with international trade disputes.